Fund and corporate services firm Alter Domus, which is headquartered in Luxembourg, is opening an office in the Cayman Islands to expand its North American presence.
The group administers more than US$750 billion of assets globally on behalf of 80% of the largest private debt managers, real estate firms and private equity firms. The company will offer a suite of fund administration, corporate and debt capital market services for Cayman Islands structures.
The new office enables the firm to service the needs of its growing global client base as asset managers and investors show increased interest in the Cayman Islands as a fund domicile, Alter Domus said in a press release.
Alexander Traub, chief commercial officer and regional executive Asia Pacific, said, “The opening of a Cayman Islands office allows us to better serve our clients in the U.S. and Asia Pacific region, who have time and again found the region to be a tried and tested domicile for their funds.
“As funds in the Cayman Islands face tighter regulation and reporting requirements, Alter Domus will be a key compliance, reporting and data management partner to our clients,” he added.
The company has appointed David Boyd Cayman country executive to lead Alter Domus’ local fund administration, corporate and fiduciary services.
Boyd, who started his new position on 16 Nov., reports directly to Paul Woods, regional executive North America.
“North America is strategic growth market for Alter Domus, and the opening of our office under David’s leadership is the next step in expanding our North American footprint and servicing clients whose needs are increasingly global and multi-jurisdictional,” Woods said.
Prior to joining Alter Domus, Boyd was a managing director at Forbes Hare Fund Services. He was also the head of fund services at Appleby Fund Services (Cayman) Limited and chief operations officer at Butterfield Fulcrum (Cayman) Limited.
Alter Domus has more than 2,500 staff in 40 offices worldwide.